Analysts Set VersaBank (NASDAQ:VBNK) Target Price at $11.27

Shares of VersaBank (NASDAQ:VBNK) have earned a consensus rating of “Hold” from the five research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $11.2667.

Several brokerages recently issued reports on VBNK. Zacks Research cut shares of VersaBank from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 9th. Weiss Ratings restated a “hold (c)” rating on shares of VersaBank in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded VersaBank from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th.

VersaBank Trading Down 0.1%

VBNK stock opened at $11.85 on Tuesday. The firm’s 50-day moving average price is $11.99 and its two-hundred day moving average price is $11.48. VersaBank has a 12-month low of $8.51 and a 12-month high of $18.38. The stock has a market capitalization of $380.74 million, a price-to-earnings ratio of 17.43 and a beta of 0.98.

VersaBank (NASDAQ:VBNK) last released its quarterly earnings data on Thursday, September 4th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. VersaBank had a net margin of 9.56% and a return on equity of 7.47%. The firm had revenue of $22.81 million for the quarter, compared to analysts’ expectations of $24.01 million. Equities analysts predict that VersaBank will post 1.46 EPS for the current year.

VersaBank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 10th will be given a dividend of $0.025 per share. The ex-dividend date is Friday, October 10th. This represents a $0.10 annualized dividend and a dividend yield of 0.8%. VersaBank’s payout ratio is currently 10.29%.

Institutional Investors Weigh In On VersaBank

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. grew its holdings in VersaBank by 1.1% in the second quarter. Alliancebernstein L.P. now owns 2,840,626 shares of the company’s stock worth $32,383,000 after purchasing an additional 29,613 shares during the period. Mendon Capital Advisors Corp grew its holdings in VersaBank by 4.0% in the second quarter. Mendon Capital Advisors Corp now owns 1,052,650 shares of the company’s stock worth $12,000,000 after purchasing an additional 40,127 shares during the period. Rhino Investment Partners Inc grew its holdings in VersaBank by 5.4% in the first quarter. Rhino Investment Partners Inc now owns 943,064 shares of the company’s stock worth $9,770,000 after purchasing an additional 48,547 shares during the period. Curi Capital LLC grew its holdings in VersaBank by 5.0% in the second quarter. Curi Capital LLC now owns 800,000 shares of the company’s stock worth $9,120,000 after purchasing an additional 38,337 shares during the period. Finally, Curi RMB Capital LLC grew its holdings in VersaBank by 19.6% in the first quarter. Curi RMB Capital LLC now owns 761,663 shares of the company’s stock worth $7,891,000 after purchasing an additional 125,000 shares during the period. Hedge funds and other institutional investors own 56.86% of the company’s stock.

VersaBank Company Profile

VersaBank provides various banking products and services in Canada and the United States. It offers deposit products, such as web-based chequing accounts, guaranteed investment certificates, registered retirement savings plans, and tax-free savings accounts, as well as deposit insurance products. The company also provides lending services, including point of sale financing that covers purchasing loan and lease receivables from finance companies operating in various industries; commercial banking services comprising commercial real estate, public sector/infrastructure financing, and condominium financing; and residential mortgages.